Radio One Reports Q4 2011 Preliminary Revenue Info, Radio Down 9.4%
February 8, 2012 at 3:50 AM (PT)
RADIO ONE has reported certain preliminary revenue information for the quarter ended DECEMBER 31, 2011. Giving effect to the consolidation of TV ONE, consolidated net revenue increased approximately 37% compared to the same period in 2010.
Revenue for the Company's core radio business, excluding REACH MEDIA, decreased approximately 9.4% compared to Q4 2010, while REACH MEDIA's revenue increased approximately 13% and the internet segment's revenue increased approximately 30%.
Giving effect to a pro-forma consolidation of TV ONE, Q4 2011 consolidated net revenue was down approximately 2% compared to Q4 2010. Fourth quarter 2011 local radio revenues decreased approximately 4% and national radio revenues decreased approximately 22% compared to Q4 2010. The markets in which we operate radio stations were down approximately 3.8% for the quarter versus Q4 2010.
The company said that "looking at current pacings for Q1 2012, the core radio business revenue is currently up approximately 6%, TV ONE's revenue is currently up mid single digits, REACH MEDIA's revenues are expected to be broadly flat compared to Q1 2011 and our internet segment is currently up approximately 40% compared to Q1 2011. Given these trends, we are expecting a strong consolidated first half performance, and anticipate remaining in compliance with the various covenant tests contained within our credit agreement for the foreseeable future."